Iksil’s value-at-risk, a measure of how much a trader might
lose in one day, was typically $30 million to $40 million even
before this year’s buildup, said the person, who wasn’t
authorized to discuss the trades. Sometimes the figure, known as
VaR, could surpass $60 million, the person said. That’s
about as high as the level for the firm’s entire investment bank,
which employs 26,000 people.

What's more is these huge bets were said to be taking place as
early as 2010, the report said citing unnamed sources familiar
with the matter.

One thing to note
is JPMorgan restated its VaR in the Chief Investment
Office for the first quarter after it announced the trading
loss because it was so off.